Mergers and acquisitions of Irish firms to soar next year

Mergers and acquisitions (M&As) by companies in the Republic are set to soar next year, according to US law firm Baker McKenzie.

The State’s “business-friendly environment” and the solid economic outlook were cited as being behind a likely rebound in M&A and IPO (initial public offering) activity.

The third edition of Baker McKenzie's Global Transactions Forecast described 2017 as a "period of apprehension" for global dealmakers, something that was "clearly visible" in the Republic, where M&A transactions fell to a low of $4.2 billion (€3.6 billion at current rates).

The figures relate only to deals involving Irish-headquartered companies that were “the target” of mergers or acquisitions, rather than the acquirer. As such, they don’t include deals such as Cardinal Health’s purchase of Medtronic units for $6.1 billion in April.

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The law firm predicts a “cyclical peak” in developed markets across the world next year, with M&A deals in Ireland soaring to $22.3 billion.

The Republic was also ranked the seventh most attractive for investment, ahead of major global financial centres including the UK, Germany and the US.

Baker McKenzie’s M&A partner Tim Gee said: “We expect 2018 to be a significant year for cross-Border M&A transactions in Ireland, as investor apprehension turns to appetite, and protectionist rhetoric in some major markets could further boost the attractiveness of Ireland as an investment destination.”